Housing Trust Group (HTG) has begun construction on a new $25 million, 100-unit senior housing community in Broward County, Fla.

The affordable community is slated for delivery in the first quarter of 2018.

To develop Arbor View, HTG acquired a 2.5-acre vacant tract in Margate, Fla., for $2.75 million.

Housing Trust Group has closed on the financing and begun construction on the $25 million Arbor View senior housing development in Margate, Fla. The 100-unit community is scheduled to be completed in early 2018.
Housing Trust Group has closed on the financing and begun construction on the $25 million Arbor View senior housing development in Margate, Fla. The 100-unit community is scheduled to be completed in early 2018.

The affordable housing developer recently closed on the financing for the project, including a $17.7 million construction loan from TD Bank; a $3.5 million loan from nonprofit Neighborhood Lending Partners, which will convert to a permanent loan; and more than $19 million in 9% low-income housing tax credit equity from Raymond James Tax Credit Funds.

HTG credits Tommy Ruzzano, mayor of Margate, and other city officials for recognizing the need for affordable senior housing in their community and championing the development.

“Arbor View is another prime example of what we can do as a community when the public and private sectors work together towards a common goal. We are incredibly humbled and proud to work with such great partners to provide top-quality luxury affordable housing for the senior residents of Broward County,” said Matthew Rieger, HTG president and CEO.

Arbor View will consist of 64 one-bedroom and 36 two-bedroom apartments, ranging from 715 to 915 square feet. The development will also feature a swimming pool, a dog park, shuffleboard courts, a computer lab, a community room, a fitness trail, and a state-of-the-art fitness center.

Arbor View was designed by the South Florida architectural firm Corwil Architects and is being constructed by Current Builders. Additionally, RPJ, Inc., M.A. Suarez & Associates, and HSQ rounded out the design team.

HTG has five other affordable housing communities under construction in Florida, including Wagner Creek in Miami, Freedom Gardens in Brooksville, Park at Wellington Phase I and Phase II in Holiday, and Covenant Villas in Belle Glade. The firm, in partnership with former basketball star Alonzo Mourning, recently completed construction of Courtside Family Apartments in Miami.